Sunday, February 08, 2009
The Wind Turns
I am re-reading Captain Horatio Hornblower's always enjoyable adventures, which explains my use of circa 1800 naval expression. Bank of Israel reports that in December 2008 foreign investments in the Tel Aviv Stock Exchange totaled $93 million - $40 million in shares and $53 million in bonds. In the previous two months foreign investors had sold shares - about $1 billion in October and $400 million in November. Well, this explains the tremendous drops in TASE and the current favourable environment. I should buy more, but have no money. It is very difficult to collect debts.
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8 comments:
My uncle had a tool route selling tools to small businesses like auto repair shops and the like. He decided to give it up after constantly having to hound the businesses for payment. The shop owners like to try new tools, but few like to pay, even if they wanted the product.
It seems like you are working the same area.
I never did read the books about Horatio Hornblower. One of these days I will.
However, I did read the Honor-Harrington series by David Weber, which is supposed to be Horatio Hornblower in space. I recommend it :)
J, will you hazard a prediction on your upcoming election?
Anon.
Netaniyahu has a chance to form the next government with the religious parties. People is very angry against the HAMAS and feels Livni did not stop them. Liberman promises to punish HAMAS and may attract many votes.
J, have you considered forming a water deisgn practice with several other water engineers? You could have a common office, and contract out collection of bad debts to a professional collection agency. Working together would keep your motivation up and allow the partners to share ideas. Also, working in an office would allow you to keep your work and private life separate.
And as I have mentioned the collection of bad debts could be handled by someone else.
Thank you for the advice. I do work with several independent consultants and with engineering studios. I dont want to enter a formal partnership because I am not interested in developing my practice into a large or medium sized office. I am interested in working on interesting projects, in teaching a bit, in travelling once or twice a year. I want to get rich not by my work but by investing. And to my surprise, this concept succeeded most wonderfully and I was almost ¨comfortable¨ till the financial world suddenly collapsed last year. I am still following the same line, hopefully I can repeat what I already did (and sell my portfolio in time). On the other hand, you have to take into account my age, how long can I go on doing what I am doing?
You could do all of the above in a joint practice with say 4 other engineers. You could form a practice with younger men who need some guidance and have the stamina to work the grueling hours a new practice demands. As a practical matter you would probably book less hours than the other men, causing you to get paid less. The other men could be given part of your larger projects and could learn from your experience. Also, as you get older you could begin to work part time and the common office would be a place for repeat customers to find you.
Actually let be clearer. Four much younger men could form a practice and build it up. You would tag along with the younger men and they would throw you business while you gave them advice. Essentially it would be their practice, but you would get the benefits of their staff and connections.
The younger men could also use you when dealing with Mekorot, since you used to work there.
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